Thursday, January 14, 2010


Matt Taibbi wrote this Jan 12, 2010

"One has to wonder whether Goldman Sachs and Lloyd Blankfein are finally having their come-to-Jesus moment today. It seems an awful lot like the Obama administration is seriously considering going after bailout monies given out last year, almost certainly involving counterparty payments made to banks like Goldman via the AIG bailout."

The really interesting aspect of the proposed tax, is the payback of bailout funds includes what was given to AIG to keep them afloat during the crash, as well as the funds that were paid to the accomplices of the economic crash, who insured their junk loans through AIG, and were paid settlements from AIG with tax payer bailout money. In short, these companies insurance claims were paid out by AIG with tax payer money. So, the Government is going after that money as well, and rightfully so, it was bailout money that insured their awful business practices and it should be paid back.

This tax on their reckless behavior should serve notice that although the tax payers came to your rescue, it doesn't exempt you from paying us back.

Here is another article about the Obama administrations plan to tax the institutions who took bailout money, and their counterparts.

I can't wait until Republicans vote against getting our bailout money back.

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